It is an accepted truth that corruption is damaging to the reputation of a country. It negatively affects direct local and foreign investment, thereby stultifying economic growth and sustainable development. Corruption undermines democratic institutions, justice and the rule of law. Perhaps the most damaging aspect of corruption is that it hurts the poor and vulnerable more than any other sector of the economy. When our most vulnerable people are made to depend on corrupt politicians for economic and social support that should be delivered in an impartial, non-partisan way by the government, then they become beholden to these politicians and feel that they must keep them in power. A vicious cycle of poverty and rampant corruption continues.
The National Democratic Congress (“NDC”) held its annual Convention on Sunday 3rd November 2019 during which a new executive committee was elected headed by Mrs. Franka Alexis-Bernardine as Political Leader. We of the NDC stand firmly behind our new leader as we struggle together for a better life for all of the people of Grenada, Carriacou & Petite Martinique.
This year the NDC turns 32, a milestone of which we are proud as we are certain all Grenadians are. This also marks a historic year. We head into our annual Convention where a new leader will be elected as we take our organization forward.
During the NDC’s term of 1990-1995, Grenada embarked on its only successful structural adjustment program, which was totally homegrown. That effort was led by then Finance Minister George Brizan and his technical team that included Hon. Anthony Boatswain and Richard Duncan. Under that program, Grenada moved from being debt ridden and on the black list to having AAA credit rating in 1995.
Fiscal responsibility legislation is a new and growing trend embraced by governments around the world in an attempt to promote and enhance fiscal prudence and ensure greater transparency in budget management. Fiscal responsibility laws are enacted voluntarily in most countries. In the case of Grenada, the Fiscal Responsibility Act, No. 29 of 2015, was imposed on our government by the IMF as a requirement of the Structural Adjustment Program.